Lack of understanding of X almost inevitably leads to a lack of valuing of X. Then the incentives will become perverse.

The best bosses I've worked for are the minority who took the time to understand at least some of the technical side of things.

I'm always struck by the fact that I, as a lowly dev, am expected to understand the business yet the suits floating far above me think they don't need to know what actually happens down below. Bad mistake. Lack of knowledge is never a good thing.